- regardless of whatever other central banks do
- flexbility in EU stability pact must be based on reforms that have been ” proven”, not reform pledges
- Eurozone governments must do their part to boost growth and cut debt
- the Eurozone has a major investment deficit
- the current economic situation of high debt, high unemployment and weak growth is very worrying
Nothing new from executive board member Coeure, speaking at the same conference as Lagarde but it does highlight the different path/needs of the Eurozone compared to, say, the US or UK. His call for invesment for growth without increasing debt sings from the same hymn sheet as the IMF
The only way out is by investing. But this should not be done by piling more debt on old debt.
Reuters has a little more here
